Free Access ACFE.CFE-Law.v2023-01-03.q36 Practice Test (Page 6)

Question 21

Under the best practices listed in the Financial Action Task Force (FATF) Recommendations concerning large cash transactions with customers which of the following transactions would require a report to be Wed with the government?

A.A lump-sum cash deposit to a bank above the jurisdiction's designated threshold

B.An international purchase of a small boat with a lump-sum cash payment below the jurisdiction's designated threshold

C.A domestic credit card purchase of a piece of jewelry above the jurisdiction's designated threshold

D.A cash payment to a restaurant supplier for restaurant supplies above the jurisdiction's designated threshold

Question 22

Which of the following typically does NOT have to be present for communications between an attorney and the attorney's client to be protected by a legal professional privilege?

A.Communication between a legal advisor and a client

B.A lawsuit has been filed

C.Intent to keep the communications confidential

D.Purpose of the communications was to seek or provide legal advice

Question 23

Which of the following examples of judicial systems would BEST be described as a civil law system?

A.The courts are bound primarily by previous court decisions to reserve legal issues

B.The courts are bound by both previous court decisions and codified principles or statutes

C.The courts are allowed to consider both codified statutes and previous court decisions but are bound by neither

D.The courts are bound by codified principles or statures but are not bound by previous court decisions

Question 24

Which of the following is the MOST ACCURATE statement about serf-regulatory organizations (SROs) in the securities industry?

A.In some jurisdictions SROs establish the standards and rules under which members of the securities industry operate

B.An SRO is a governmental entity that exercises regulatory authority over the securities industry in its jurisdiction

C.In most jurisdictions. SROs are prohibited from participating in the resolution of disputes related to securities transactions

D.An SRO generally has sole regulatory authority over the securities industry in the jurisdiction in which it operates

Question 25

Which of the following statements about the International Organization of Securities Commissions (IOSCO) s TRUE?

A.IOSCO is an oversight body responsible for issuing and enforcing regulations that govern all international securities markets

B.IOSCO is recognized as the international standard-setter for securities markets

C.IOSCO is a self-regulatory organization for companies that have securities traded on international securities markets

D.IOSCO provides a forum for regular cooperation on banking supervisory matters affecting developing nations

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Question 21

Question 22

Question 23

Question 24

Question 25

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